{"id":3162,"date":"2024-06-06T14:51:18","date_gmt":"2024-06-06T21:51:18","guid":{"rendered":"https:\/\/www.lee-associates.com\/pasadena\/?p=3162"},"modified":"2024-06-06T14:51:18","modified_gmt":"2024-06-06T21:51:18","slug":"lee-associates-pasadena-successfully-closes-sunset-plaza","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/pasadena\/2024\/06\/06\/lee-associates-pasadena-successfully-closes-sunset-plaza\/","title":{"rendered":"Lee &amp; Associates &#8211; Pasadena Successfully Closes Sunset Plaza in Diamond Bar"},"content":{"rendered":"<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3164 size-medium alignleft\" src=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/06\/DJI_0110-copy-300x169.jpg\" alt=\"Sunset Plaza\" width=\"300\" height=\"169\" srcset=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/06\/DJI_0110-copy-300x169.jpg 300w, https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/06\/DJI_0110-copy-1024x575.jpg 1024w, https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/06\/DJI_0110-copy-768x431.jpg 768w, https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/06\/DJI_0110-copy-1536x863.jpg 1536w, https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2024\/06\/DJI_0110-copy-2048x1151.jpg 2048w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/strong><\/p>\n<p><strong>June 6, 2024 (Pasadena, CA) \u2013 <\/strong>Lee &amp; Associates \u2013 Pasadena Founding Principals, <a href=\"https:\/\/www.lee-associates.com\/pasadena\/christopher-larimore\/\">Christopher Larimore<\/a>, <a href=\"https:\/\/www.lee-associates.com\/pasadena\/vincent-molitor\/\">Vincent Molitor<\/a> and <a href=\"https:\/\/www.lee-associates.com\/pasadena\/jamie-harrison\/\">Jamie Harrison<\/a>, successfully closed the sale of 560 North Diamond Bar Boulevard in Diamond Bar.<\/p>\n<p>&nbsp;<\/p>\n<p>First time on the market in 40 years, Sunset Plaza sits in an excellent location off the 57 and 60 freeways.\u00a0 The property went under contract for $3,100,000, with the seller giving the buyer a credit in the amount of $100,000 towards deferred maintenance at the close of escrow. The seller owned the property for over 40 years, moved out of state several years ago and decided it was time to sell the asset. The buyer was a local owner that was looking for a value-add property in Diamond bar as a long-term hold.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cIn a dynamic market where interest rates have increased by over 5% since reaching a historic low in March 2020 of around 0.25%, it has become crucial for sellers and their agents to assess their position carefully and make necessary adjustments to maintain competitiveness in the market.\u201d explains Jamie Harrison.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThe investors purchased this property with deferred maintenance understanding it\u2019s excellent position in Diamond Bar and the appeal to small tenant users, which will create much more value once property improvements are completed.\u201d explains Christopher Larimore.<\/p>\n<p>&nbsp;<\/p>\n<table style=\"border-collapse: collapse;width: 100%\">\n<tbody>\n<tr>\n<td style=\"width: 33.3333%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-776\" src=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2019\/02\/Christopher-Larimore-277x300.png\" alt=\"\" width=\"191\" height=\"207\" \/><\/span><\/strong><\/span><\/td>\n<td style=\"width: 33.3333%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-929\" src=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2019\/03\/Vincent-Molitor-277x300.png\" alt=\"\" width=\"191\" height=\"207\" \/><\/span><\/strong><\/span><\/td>\n<td style=\"width: 33.3333%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-779\" src=\"https:\/\/www.lee-associates.com\/pasadena\/wp-content\/uploads\/sites\/58\/2019\/02\/Jamie-Harrison-277x300.png\" alt=\"\" width=\"191\" height=\"207\" \/><\/span><\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 33.3333%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><a href=\"https:\/\/www.lee-associates.com\/pasadena\/christopher-larimore\/\">Christopher Larimore<\/a><br \/>\n<\/span><\/strong><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\"><strong>Principal<br \/>\n<\/strong><\/span><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\">626.240.2788<br \/>\n<a href=\"mailto:clarimore@lee-associates.com\">clarimore@lee-associates.com<\/a><br \/>\n<\/span><span style=\"font-size: 10pt\">License ID 01314464<\/span><\/span><\/td>\n<td style=\"width: 33.3333%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><a href=\"https:\/\/www.lee-associates.com\/pasadena\/vincent-molitor\/\">Vincent Molitor<\/a><br \/>\n<\/span><\/strong><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\"><strong>Principal<br \/>\n<\/strong><\/span><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\">626.240.2786<br \/>\n<a href=\"mailto:vmolitor@lee-associates.com\">vmolitor@lee-associates.com<\/a><br \/>\n<\/span><span style=\"font-size: 10pt\">License ID 01295360<\/span><\/span><\/td>\n<td style=\"width: 33.3333%\"><span style=\"font-family: arial, helvetica, sans-serif\"><strong><span style=\"font-size: 10pt\"><a href=\"https:\/\/www.lee-associates.com\/pasadena\/jamie-harrison\/\">Jamie Harrison<\/a><br \/>\n<\/span><\/strong><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\"><strong>Principal<br \/>\n<\/strong><\/span><\/span><span style=\"font-family: arial, helvetica, sans-serif\"><span style=\"font-size: 10pt\">626.240.2784<br \/>\n<a href=\"mailto:jamie.harrison@lee-associates.com\">jamie.harrison@lee-associates.com<\/a><br \/>\n<\/span><span style=\"font-size: 10pt\">License ID 01290266<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong><em>###<\/em><\/strong><\/p>\n<p><strong><u>ABOUT LEE &amp; ASSOCIATES<br \/>\n<\/u><\/strong>Lee &amp; Associates \u2013 Pasadena is a full service commercial real estate company headquartered in Pasadena, CA. Our client-focused brokers specialize in office, retail, tenant advisory, multifamily, and investment sales. As the fastest-growing broker-owned firm in the nation, with more than 60 office locations in North America, we are uniquely qualified to support our clients\u2019 real estate needs in the local, national and international markets. For more information, visit\u00a0<a href=\"http:\/\/www.lee-pasadena.com\/\">lee-pasadena.com<\/a>.<\/p>\n<p><strong><em>###<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 6, 2024 (Pasadena, CA) \u2013 Lee &amp; Associates \u2013 Pasadena Founding Principals, Christopher Larimore, Vincent Molitor and Jamie Harrison, successfully closed the sale of 560 North Diamond Bar Boulevard in Diamond Bar. &nbsp; First time on the market in 40 years, Sunset Plaza sits in an excellent location off the 57 and 60 freeways.\u00a0 The property went under contract for $3,100,000, with the seller giving the buyer a credit in the amount of $100,000&#8230;<\/p>\n","protected":false},"author":197,"featured_media":3166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,2],"tags":[581,582,595,586,241],"class_list":["post-3162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-press-releases","tag-commercial-real-estate","tag-cre","tag-ilovela","tag-investment-sale","tag-lee-associates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.6 (Yoast SEO v28.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lee &amp; 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